Myth: All sellers are getting multiple offers and over asking price offers because it’s a strong seller’s market and there is little or no inventory.
Let’s look at the Reno-Sparks market of June 2018. There were 586 single family homes sold in the Reno-Sparks market. Of those 45% sold below original asking price. 25% sold right at the original asking price. 30% sold above original asking price.
Of the 30% that sold over asking price the average amount OVER asking that sellers received was 2.2%. Another key statistic is that 78% of the sellers that received over asking offers were price BELOW $500,000. As the price goes up over the $500,000 price point sellers are less likely to receive multiple offers.
What does this mean for you? Listing your home at the right price can keep you from being one of the 45% receiving below asking price. The Shocket Team has market data and numerous tools we can use to show you the market for your home. Reno-SparksRealEstate.com